Dividable Lot with Cash
For Sale
$599,900
Pending
501 SE 157TH, Portland, OR 97233
0.48-acre lot zoned RM1 with cash flow.
Property SizeContact for details
Lot Size0.48 Acres
Days on Market142
Property Features for 501 SE 157TH
General Information
Standard status
Pending
Lot size
0.48 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$9,789
Amenities
Commons
Public Road
Listing Agency:
WINDERMERE REALTY TRUST
(503) 284-7755
Listed By:
JEFF CAPEN · License #200308199
Source:
Corcoran
Added: Apr 1
Changed: Aug 8
Last Checked: Aug 8 at 2:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WINDERMERE REALTY TRUST
Investment Insights
Based on property information with market context.
Located in the Centennial neighborhood, this 0.48-acre lot zoned RM1 offers cash flow and future development possibilities. The property includes three units, each featuring 2 bedrooms and 1 bathroom, with varying degrees of updates. All units have central air conditioning, in-unit washers and dryers, electric or gas ranges, and free-standing refrigerators. Unit 505 features wood flooring, black appliances, a fireplace with brick surround, and a stackable washer and dryer. Unit 511 includes Spanish tile in the kitchen, stainless steel appliances, gas cooking, a carpeted living room with a woodstove, a full-size washer and dryer, and a soaking tub. The lower-level unit, 513, has laminate wood flooring, white appliances, a built-in microwave, and a soaking tub. Residents have access to shared outdoor spaces with a covered back patio, raised garden beds, and an outdoor fireplace. The level backyard provides space for gardening, recreation, or expansion. There are also two rentable garages for added income and driveway parking for at least six vehicles. This property can be subdivided, maintained as an income-producing property, or transformed into a multi-generational living compound.
Key Highlights
- Large 0.48‑acre dividable lot zoned RM1 offers development potential.
- Three income‑producing units provide immediate cash flow.
- Prime Centennial neighborhood location.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 97233, OR
41,625
Population
14,844
Households
2.8
Avg Household Size
34
Median Age
18%
College-Educated
80%
High-School Grad
4.6 sq mi
ZIP Area
9,049
Density / Sq Mi
$54,886
Median Household Income
$37,216
Median Earnings
$1,352
Median Rent
$385,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - 0.48-acre lot zoned RM1 with cash flow.
Where is this residential land & home lot located?
The property is located at 501 SE 157TH Portland, OR.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Large 0.48‑acre dividable lot zoned RM1 offers development potential.; Three income‑producing units provide immediate cash flow.; Prime Centennial neighborhood location.
